XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 15,458 $ 18,521
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,347 3,706
Amortization of financing costs and discounts 495 461
Non-cash operating lease costs 416 447
Share-based compensation 5,140 5,403
Provision for doubtful accounts 1,831 608
Deferred income taxes, net (66) (1,310)
Decrease (increase) in:    
Accounts receivable (3,429) (3,148)
Prepaid expenses and other current assets (266) (494)
Other assets 424 (433)
Increase (decrease) in:    
Accounts payable and accrued expenses 12,400 14,799
Income taxes payable 206 4,776
Deferred revenue 735 1,886
Operating lease liabilities (423) (459)
Liability for uncertain tax positions 713 0
Other liabilities (10) 5,145
Net cash provided by operating activities 37,971 49,908
Cash flows from investing activities:    
Purchases of property and equipment (8,548) (6,915)
Acquisition of businesses, net of cash received 0 (12,855)
Purchase of investments (4,000) 0
Purchases of intangible assets 0 (1,000)
Net cash used in investing activities (12,548) (20,770)
Cash flows from financing activities:    
Debt issuance costs 0 (232)
Repurchase of common stock (9,195) 0
Shares withheld related to net share settlement (451) (1,173)
Net cash used in financing activities (9,646) (1,405)
Effect of exchange rate changes on cash and cash equivalents 1,324 (647)
Net change in cash and cash equivalents 17,101 27,086
Cash and cash equivalents at beginning of period 94,164 66,778
Cash and cash equivalents at end of period $ 111,265 $ 93,864